The ONS will release UK GDP figures for the 4th quarter of 2023 on the 15th February 2024. Should those statistics show that GDP contracted in the 4th quarter, then that will represent the second consecutive quarter of contraction and the UK will therefore have officially entered a technical recession (defined as two consecutive quarters of negative growth in real GDP). According to the Standard, “Increasing numbers of City analysts are now forecasting a fall in GDP of 0.1% in the three months to December. That would follow the same level of decline in the third quarter and meet the technical definition of recession.“
